We will update the 25-man roster projection tomorrow, but first, let’s take a look at the payroll projection…

With the addition of Carlos Pena, the 2012 payroll projects to be approximately $63.6 million, an increase of 54.7 percent over last season. This is based on raises already built into existing contracts, and projected salaries for arbitration-eligible players and players in their first three seasons.

Here is the breakdown of the projected payroll. Notes on the table, and additional thoughts can be found below…

Notes on the projected 40-man roster and payroll…

As expected, Justin Ruggiano, who was out of minor league options, was removed from the 40-man roster when Carlos Pena was signed.

Other key playersout of minor league options who will be fighting for roster spots include Elliot Johnson and Jose Lobaton. However, we project both of those players to make the opening day roster.

(1) Once a player is added to the 40-man roster, the team can ‘option’ the player to the minors 3 times. A team cannot be charged with using more than one option in a given season even if a player is demoted to the minors several times that year. An option is not used if a player is added to the 40-man roster midseason unless he is sent back to the minors at some point. An option is only used if a player spends more than 20 days in the minors while on the 40-man roster. A player with more than 5 years experience can refuse a minor league assignment, so we list those players as having no options.

(2) Years remaining under control of franchise before free agency eligibility. A player can become a free agent after 6 years of Major League service time.

(3) First, second and third year players will have their salaries determined by the team, but will fall close to the major league minimum which is $480K in ’12. Minor leaguers on the 40-man make $78,250. We are not including signing bonuses or incentives.

* Players with at least 3 years since their big league debut. These players must clear optional waivers in order to be demoted to the minors even if they have options remaining.

Hey, Longoria got guaranteed money to set himself up for life before even playing. Same with Moore. Playing without pressure of money can help produce superior results. Both will get big paydays after their careers are established. See Pujols.